Idaho Industries Inc. is considering a project that has an initial after-tax outlay or after-tax cost of $450,000. The respective future cash inflows from its five-year project for years 1 through 5 are $95,000 each year. Idaho expects an additional cash flow of $60,000 in the fifth year. The firm uses the IRR method and has a hurdle rate of 10%. Will Idaho accept the project?

A)	Idaho accepts the project because it has an IRR greater than 5%.

B)	Idaho rejects the project because it has an IRR of 5.62% which less than 10%.

C)	Idaho accepts the project because it has an IRR of 11.2% which is greater than 10%.

D)	There is not enough information to answer this question.

Please use excel if you can and show how to get the IRR!